Many home buyers are turning to mortgages with interest-only payment schedules so they can afford to buy a more expensive home. These mortgages have lower monthly payments, which makes qualifying easier. But the lower payments don't last forever, and interest-only loans aren't for everyone.  more...

Recently four offers were made on a home in Oakland, Calif. Three of the offers were presented directly to the sellers and their agent by the buyer's agents. The fourth offer was simply faxed to the listing agent. This buyer's agent wasn't available to represent her client's best interests. She didn't even bother to speak to the listing agent before faxing the offer. As you might expect, the faxed offer was rejected.  more...

Buyers started house hunting early this year in many areas to get a jump on the market while interest rates are still low. However, many buyers are finding that there are not enough houses to go around, at least not of the kind they're looking for. If you're having difficulty finding a home to buy, here are some tips about how to maximize your opportunities.  more...

Imagine this. You list your home for sale. Buyers are lining up to take a look. The inventory is so skimpy that buyers are having your home inspected even before making an offer. In so doing, they hope to out-fox the competition by making an offer that doesn't include an inspection contingency.  more...

Buying a first home is a scary experience. It's easy to imagine the worst. How will I know a good house when I see it? What if I buy a house I can't sell? How can I make sure I'm making a good investment? What if I pay too much and home prices drop?  more...

2004 has barely begun, and the real estate market is already heating up in some areas. But, where listing inventories are low, some buyers are once again finding themselves in competition with other buyers.

A competitive real estate market can lead to risky real estate practices. For instance, contract contingencies, which are designed to protect buyers during the home-purchase process, tend not to be used as often. Buyers simplify their offers to make them more appealing to sellers. In some cases, contingencies are left out of the contract completely.  more...

It's not unusual for sellers to have an over-inflated opinion of the value of their home. Often this comes from pride of ownership, which is not a bad thing. Homeowners who take pride in their homes usually keep them well maintained. This preserves the value of the property. Sometimes, however, pride of ownership can get in the way of making a rational business decision.  more...

It's no mystery that listings that are in great shape usually sell for more than those that are in sub-prime condition. But, is it really necessary to fix up your home for sale? Won't the buyers want to fix up the house the way they want it?

Sellers are often resistant to the notion of investing time and effort in a property that will soon no longer be theirs. Yet, time and again, sellers who properly prepare their homes for sale reap the benefits in terms of a faster sale and a higher sale price.  more...

Most purchase contracts include an inspection contingency. Sometimes, the buyers remove this contingency without asking the seller to make any repairs. But if the buyers ask the seller to remedy a defect, the resolution often takes the form of a credit from the seller to the buyer that is applied toward the buyers' nonrecurring closing costs.  more...

In very hot real estate markets, offers made contingent on the sale of another property usually don't go very far. When sellers have multiple offers to choose from, they usually go with offers from buyers who don't have to sell in order to buy.

But, if you do find a seller who's willing to accept a contingent sale offer, there's a good chance he'll want a release clause to be a part of the contract. A release clause gives the seller a way out of the contract if the buyer can't find a buyer for his/her existing home within a certain time period.  more...

Recently a mini subdivision of upscale homes was built in a desirable neighborhood in the Oakland Hills of northern California. The homes in the project were reasonably priced. They sold quickly, some to buyers who were moving from older homes in the same area.

The appeal of a brand-new home is obvious. You get to be the first person to occupy the property. It hasn't been messed up by negligent owners or botched up by bad remodeling. And in most cases, the maintenance and upkeep will be minimal, at least for a while.  more...